Seven-year federal bond tender targets €4 billion at 3.30 percent
The German Finance Agency is tendering a new seven-year federal bond with a target volume of €4 billion and a 3.30 percent coupon via the Bundesbank. Bidding opens on October 7, 2026, with maturity scheduled for November 15, 2033.
Key terms for the 2033 maturity
The German Federal Republic – Finance Agency is issuing a 3.30 percent sovereign bond maturing on November 15, 2033, through the Deutsche Bundesbank auction platform.
The targeted issuance volume stands at €4 billion, which includes the standard retention quota for secondary market management.
Interest accrual begins on October 9, 2026, with the initial coupon payment scheduled for November 15, 2027, covering an extended period of 402 days.
The security carries ISIN DE000BU27022. Market participants may separate the bond into principal and individual interest claims through stripping under standard debt issuance terms.
Auction mechanics and settlement timetable
Participation is restricted to members of the Federal Issues Auction Group.
Bids must have a minimum nominal value of €1 million, with price bids specified in full increments of 0.01 percentage points.
Non-competitive bids will be allotted at the weighted average price of accepted competitive offers.
Bidding takes place on Wednesday, October 7, 2026, from 8:00 to 11:30 Frankfurt time via the Bund Bietungs-System.
Stock exchange trading begins the same day, while settlement occurs on October 9, 2026, through Clearstream Europe.
Routine funding on the benchmark curve
The tender represents standard sovereign debt management without altering primary market liquidity.
Primary dealers will absorb the €4 billion volume smoothly along the seven-year curve.
For institutional investors, the placement simply maintains regular duration supply in European benchmark paper.